Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lowered by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,382 shares of the software company’s stock after selling 91 shares during the period. Keudell Morrison Wealth Management’s holdings in Adobe were worth $914,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ADBE. Cooper Investors PTY Ltd. grew its position in Adobe by 35.9% in the 1st quarter. Cooper Investors PTY Ltd. now owns 18,559 shares of the software company’s stock valued at $7,118,000 after buying an additional 4,902 shares in the last quarter. Consolidated Portfolio Review Corp grew its position in Adobe by 4.9% in the 1st quarter. Consolidated Portfolio Review Corp now owns 6,009 shares of the software company’s stock valued at $2,305,000 after buying an additional 281 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Adobe by 482.9% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 204 shares of the software company’s stock valued at $78,000 after buying an additional 169 shares in the last quarter. Legacy Advisors LLC grew its position in Adobe by 2.5% in the 1st quarter. Legacy Advisors LLC now owns 2,004 shares of the software company’s stock valued at $769,000 after buying an additional 49 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its position in Adobe by 8.4% in the 1st quarter. GHP Investment Advisors Inc. now owns 15,332 shares of the software company’s stock valued at $5,880,000 after buying an additional 1,186 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. Oppenheimer decreased their target price on shares of Adobe from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Friday, June 13th. Jefferies Financial Group reduced their price objective on shares of Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research report on Monday, March 31st. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Monday. BMO Capital Markets restated an “outperform” rating and set a $450.00 price objective on shares of Adobe in a research report on Friday, June 13th. Finally, Phillip Securities upgraded shares of Adobe from a “moderate sell” rating to a “strong-buy” rating in a research report on Monday, June 16th. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $496.75.

Adobe Price Performance

Shares of ADBE opened at $380.12 on Tuesday. The firm has a market cap of $162.01 billion, a PE ratio of 24.32, a PEG ratio of 1.79 and a beta of 1.55. The firm’s 50 day moving average price is $390.26 and its 200 day moving average price is $414.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 0.99. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

Adobe Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.